Guideline Value for Sakthi Nagar

Sakthi Nagar guideline value

The current guideline value of Sakthi Nagar, located in Aathur village under the Redhills SRO, is Rs 165 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Sakthi Nagar has changed

The guideline value for Sakthi Nagar has seen several revisions over the years. In 2002, the guideline value was Rs 117 per sq.ft, which then decreased to Rs 12 per sq.ft in 2003. The value increased significantly in the subsequent years, reaching Rs 50 per sq.ft in 2007, followed by a jump to Rs 150 per sq.ft in 2012. However, it fell to Rs 100 per sq.ft in 2017, before rising again to Rs 150 per sq.ft in 2023.

From 2023 to 2024, the guideline value increased by 10% to reach Rs 165 per sq.ft. Overall, from 2002 to 2024, the guideline value has increased by 41%. There are no figures available for revisions in the years not mentioned in the register.

Guideline values in Aathur

Aathur village has 11 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 165 to Rs 1,000 per sq.ft, with a median value of Rs 220 per sq.ft. The guideline value for Sakthi Nagar is below this median.

• Saraswathi Nagar: Rs 220 per sq.ft (2024)
• Rajesh Nagar: Rs 165 per sq.ft (2024)
• Poorani Avenue Annex: Rs 220 per sq.ft (2024)
• Thanthai Periyar Street: Rs 220 per sq.ft (2024)
• Metro Star City: Rs 200 per sq.ft (2024)
• VGP Jai Nagar: Rs 220 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 165 per sq.ft, the total guideline value would be Rs 1,65,000. The stamp duty at 7% would amount to Rs 11,550, while the registration fee at 2% would be Rs 3,300, bringing the total fees to Rs 14,850. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sakthi Nagar?

The Sub Registrar Office that covers Sakthi Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Aathur

The guideline value plays a crucial role in property transactions in Aathur. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When registering a property, the guideline value is referenced to calculate the applicable fees. This ensures that the transaction is recorded accurately and reflects the current valuation set by the authorities.

Frequently asked questions

What is the current guideline value of Sakthi Nagar?

The current guideline value of Sakthi Nagar is Rs 165 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 117 per sq.ft in 2002 to Rs 165 per sq.ft in 2024, showing an overall increase of 41% over the years.

What is the registration office for Sakthi Nagar?

The registration office for Sakthi Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated in Sakthi Nagar?

Stamp duty in Sakthi Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. There is also a registration fee of 2% applicable.

Are there other streets with guideline values in Aathur?

Yes, there are other streets in Aathur under the Redhills SRO with guideline values ranging from Rs 165 to Rs 1,000 per sq.ft, with a median value of Rs 220 per sq.ft.